New York State Teachers Retirement System Trims Position in Edwards Lifesciences Corporation (EW)
New York State Teachers Retirement System reduced its stake in shares of Edwards Lifesciences Corporation (NYSE:EW) by 1.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 342,484 shares of the medical research company’s stock after selling 5,116 shares during the quarter. New York State Teachers Retirement System owned 0.16% of Edwards Lifesciences Corporation worth $37,437,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Korea Investment CORP raised its stake in Edwards Lifesciences Corporation by 144.5% during the third quarter. Korea Investment CORP now owns 355,683 shares of the medical research company’s stock worth $38,880,000 after acquiring an additional 210,200 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Edwards Lifesciences Corporation by 53.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 11,991 shares of the medical research company’s stock worth $1,418,000 after acquiring an additional 4,170 shares in the last quarter. Westpac Banking Corp raised its stake in Edwards Lifesciences Corporation by 13.5% during the second quarter. Westpac Banking Corp now owns 14,214 shares of the medical research company’s stock worth $1,681,000 after acquiring an additional 1,691 shares in the last quarter. Principal Financial Group Inc. raised its stake in Edwards Lifesciences Corporation by 41.9% during the second quarter. Principal Financial Group Inc. now owns 465,885 shares of the medical research company’s stock worth $55,086,000 after acquiring an additional 137,643 shares in the last quarter. Finally, Nicholas Investment Partners LP acquired a new position in Edwards Lifesciences Corporation during the second quarter worth $5,904,000. Hedge funds and other institutional investors own 82.37% of the company’s stock.
A number of analysts have recently weighed in on the company. BMO Capital Markets restated a “buy” rating and issued a $132.00 target price on shares of Edwards Lifesciences Corporation in a research note on Friday, September 1st. William Blair restated an “outperform” rating on shares of Edwards Lifesciences Corporation in a research note on Monday, August 28th. Barclays PLC raised their target price on Edwards Lifesciences Corporation from $108.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday, July 27th. Zacks Investment Research upgraded Edwards Lifesciences Corporation from a “hold” rating to a “buy” rating and set a $130.00 target price for the company in a research note on Tuesday, July 18th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $130.00 target price on shares of Edwards Lifesciences Corporation in a research note on Friday, September 1st. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Edwards Lifesciences Corporation presently has a consensus rating of “Buy” and an average price target of $125.17.
In other news, VP Donald E. Bobo, Jr. sold 5,300 shares of the stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $112.15, for a total value of $594,395.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Larry L. Wood sold 18,960 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $111.81, for a total value of $2,119,917.60. The disclosure for this sale can be found here. In the last three months, insiders sold 171,480 shares of company stock valued at $18,855,915. Insiders own 2.13% of the company’s stock.
Edwards Lifesciences Corporation (NYSE:EW) last issued its quarterly earnings results on Tuesday, October 24th. The medical research company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.02). The company had revenue of $821.50 million during the quarter, compared to analyst estimates of $833.85 million. Edwards Lifesciences Corporation had a net margin of 22.47% and a return on equity of 27.22%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 EPS.
About Edwards Lifesciences Corporation
Edwards Lifesciences Corporation is a manufacturer of heart valve systems and repair products used to replace or repair a patient’s diseased or defective heart valve. The Company is engaged in patient-focused innovations for structural heart disease and critical care monitoring. Its segments include United States, Europe, Japan and Rest of World.
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